Owner of electric two-wheelers brand ”Joy e-Bike”, WardWizard Innovations and Mobility , reported total sales of 938 units for June. These sales can be attributed to the increased incentives from the government for such eco-friendly vehicles.
The company had sold 223 units in June 2020,and has sold over 1,800 units in the first quarter of 2021-22.
Recently, the initiatives taken by the government have proved beneficial for EV companies. The Department of Heavy Industry (DHI) modified FAME-II and increased the demand incentive for electric two-wheelers (e2W) to Rs 15,000 per kWh, from the earlier uniform subsidy of Rs 10,000 per kwh for all EVs, including plug-in hybrids and strong hybrids except busses. It also capped incentives for e2W at 40 percent of the vehicle cost, up from 20 per cent earlier.
The Gujarat government recently also announced a demand incentive of Rs 10,000 per kWh for e2W, electric three-wheelers (e3W) and electric four-wheelers (e4W) over and above subsidies available from the central government. The maximum ex-factory prices were capped at Rs 1.5 lakh, Rs 5 lakh and Rs 15 lakh, respectively, for the three vehicle categories.
WardWizard Innovations and Mobility Chief Operating Officer Sheetal Bhalerao said – “With the subsidies and incentives announced by FAME-II and later by the Gujarat government, there is a sudden rise in demand for electric vehicles in the country. As fuel prices continue to increase, going above Rs 100 (per litre) in many states, there is a quick shift by the customers for both high- and low-speed models. All our touchpoints are now fully functional following all the state-specific protocols”